Summit Securities Group LLC bought a new position in shares of Monster Beverage Corporation (NASDAQ:MNST) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 37,197 shares of the company’s stock, valued at approximately $1,848,000. Monster Beverage Corporation accounts for 0.3% of Summit Securities Group LLC’s portfolio, making the stock its 27th largest position.

A number of other hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of Monster Beverage Corporation by 1,887.5% in the first quarter. BlackRock Inc. now owns 21,560,695 shares of the company’s stock worth $995,459,000 after buying an additional 20,475,879 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Monster Beverage Corporation by 161.4% in the first quarter. American Century Companies Inc. now owns 4,349,597 shares of the company’s stock worth $200,821,000 after buying an additional 2,685,321 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Monster Beverage Corporation by 297.8% in the first quarter. Renaissance Technologies LLC now owns 1,804,200 shares of the company’s stock worth $83,300,000 after buying an additional 1,350,700 shares during the last quarter. William Blair Investment Management LLC raised its stake in shares of Monster Beverage Corporation by 91.8% in the first quarter. William Blair Investment Management LLC now owns 2,000,603 shares of the company’s stock worth $92,368,000 after buying an additional 957,769 shares during the last quarter. Finally, Harbour Capital Advisors LLC raised its stake in shares of Monster Beverage Corporation by 6,737.7% in the second quarter. Harbour Capital Advisors LLC now owns 890,266 shares of the company’s stock worth $17,920,000 after buying an additional 877,246 shares during the last quarter. 65.91% of the stock is currently owned by institutional investors.

Monster Beverage Corporation (NASDAQ:MNST) opened at 52.52 on Friday. The firm has a market cap of $29.83 billion, a P/E ratio of 39.73 and a beta of 0.96. Monster Beverage Corporation has a 1-year low of $40.64 and a 1-year high of $54.24. The firm has a 50-day moving average of $51.76 and a 200 day moving average of $47.74.

Monster Beverage Corporation (NASDAQ:MNST) last released its earnings results on Tuesday, August 8th. The company reported $0.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The company had revenue of $907.07 million during the quarter, compared to the consensus estimate of $901.38 million. Monster Beverage Corporation had a return on equity of 22.96% and a net margin of 23.98%. Monster Beverage Corporation’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.99 EPS. On average, analysts predict that Monster Beverage Corporation will post $1.48 EPS for the current year.

TRADEMARK VIOLATION WARNING: “Summit Securities Group LLC Invests $1.85 Million in Monster Beverage Corporation (MNST)” was originally published by Watch List News and is the sole property of of Watch List News. If you are reading this report on another publication, it was copied illegally and republished in violation of international copyright and trademark laws. The legal version of this report can be viewed at https://www.watchlistnews.com/summit-securities-group-llc-invests-1-85-million-in-monster-beverage-corporation-mnst/1474156.html.

MNST has been the topic of a number of recent research reports. Zacks Investment Research raised Monster Beverage Corporation from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Monday, July 17th. Goldman Sachs Group, Inc. (The) upped their price objective on Monster Beverage Corporation from $54.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, May 15th. Vetr raised Monster Beverage Corporation from a “buy” rating to a “strong-buy” rating and set a $52.90 price objective on the stock in a research report on Wednesday, May 17th. Jefferies Group LLC upped their price objective on Monster Beverage Corporation from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, April 19th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $58.00 price objective on shares of Monster Beverage Corporation in a research report on Monday, May 15th. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Monster Beverage Corporation has an average rating of “Buy” and an average price target of $56.28.

Monster Beverage Corporation Company Profile

Monster Beverage Corporation is a holding company. The Company develop, market, sell and distribute alternative beverage category beverages under the brand names of Monster Energy, Monster Rehab, Monster Energy Extra Strength Nitrous Technology, Java Monster, X-Presso Monster, Muscle Monster, Punch Monster, Hansen’s, Hansen’s Natural Cane Soda, Junior Juice, Blue Sky, Hubert’s, Worx Energy and Peace Tea.

Want to see what other hedge funds are holding MNST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monster Beverage Corporation (NASDAQ:MNST).

Institutional Ownership by Quarter for Monster Beverage Corporation (NASDAQ:MNST)

Receive News & Ratings for Monster Beverage Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monster Beverage Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.